Cordasco Financial Network Holds Position in Liberty Property Trust (LPT)
Cordasco Financial Network maintained its position in Liberty Property Trust (NYSE:LPT) during the third quarter, Holdings Channel reports. The fund owned 60,000 shares of the real estate investment trust’s stock at the end of the third quarter. Liberty Property Trust comprises 2.7% of Cordasco Financial Network’s holdings, making the stock its 6th largest position. Cordasco Financial Network’s holdings in Liberty Property Trust were worth $2,383,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Liberty Property Trust by 35.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,736 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 723 shares during the last quarter. Fort Washington Investment Advisors Inc OH bought a new position in Liberty Property Trust during the second quarter valued at approximately $207,000. Hancock Holding Co. bought a new position in Liberty Property Trust during the second quarter valued at approximately $225,000. Jane Street Group LLC bought a new position in Liberty Property Trust during the second quarter valued at approximately $233,000. Finally, Invictus RG bought a new position in Liberty Property Trust during the second quarter valued at approximately $240,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Shares of Liberty Property Trust (NYSE:LPT) traded up 0.20% during midday trading on Friday, hitting $40.27. 398,154 shares of the company were exchanged. Liberty Property Trust has a one year low of $26.94 and a one year high of $42.26. The company has a market capitalization of $5.92 billion, a P/E ratio of 24.52 and a beta of 0.92. The company has a 50-day moving average of $39.59 and a 200 day moving average of $39.80.
Liberty Property Trust (NYSE:LPT) last released its quarterly earnings data on Tuesday, October 25th. The real estate investment trust reported $0.66 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.66. Liberty Property Trust had a net margin of 31.51% and a return on equity of 8.17%. The firm earned $190.86 million during the quarter, compared to analysts’ expectations of $188.30 million. During the same period in the previous year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts expect that Liberty Property Trust will post $1.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Tuesday, January 3rd will be given a dividend of $0.475 per share. The ex-dividend date is Thursday, December 29th. This represents a $1.90 dividend on an annualized basis and a yield of 4.73%. Liberty Property Trust’s dividend payout ratio (DPR) is 115.85%.
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LPT has been the subject of several research analyst reports. Stifel Nicolaus upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $44.00 in a research note on Wednesday, October 26th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Liberty Property Trust from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, November 10th. Mitsubishi UFJ Financial Group cut shares of Liberty Property Trust from an “overweight” rating to a “neutral” rating and cut their target price for the company from $50.00 to $46.00 in a research note on Friday, January 6th. Wells Fargo & Company upgraded shares of Liberty Property Trust from a “market perform” rating to an “outperform” rating in a research note on Tuesday, December 13th. Finally, Capital One Financial Corporation upgraded shares of Liberty Property Trust from an “equal weight” rating to an “overweight” rating and set a $41.00 price objective for the company in a research note on Tuesday, October 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Liberty Property Trust presently has an average rating of “Hold” and an average target price of $42.17.
About Liberty Property Trust
Liberty Property Trust is a real estate investment trust. The Company’s operations are primarily conducted by its subsidiary, Liberty Property Limited Partnership. Its segments include Carolinas; Chicago/Milwaukee; Houston, Lehigh/Central PA; Minnesota; Orlando; Philadelphia; Richmond/Hampton Roads; Southeastern PA; South Florida; Tampa; United Kingdom, and Other, which includes Arizona, Atlanta, Cincinnati/Columbus/Indianapolis, Dallas, Maryland, New Jersey, Northern Virginia, Southern California, Washington DC and other segments.
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